Cryptocurrencies Allowed Nvidia to Exceed Expectations of Analysts
February 10, 2018
One of the largest developers of graphics processing units (GPUs) Nvidia reported on the fourth quarter of 2017. Largely thanks to the demand from cryptocurrency miners for the GPUs of the company, its numbers are much larger than it was expected.
According to the report, the company's earnings per share are $1.78, which significantly exceeded analysts' forecast of $1.17. The same goes for revenue, which is $2.91 billion, beating the forecast of $2.69 billion. It is interesting to note, that company's share grew by 10% since the publication of the Q4 report.
The company have not openly admitted that the popularity of cryptocurrency mining became one of the factors that positively affected these figures. However, Nvidia CFO Colette Kress noted that the share of revenue from the sale of GPU-processors in this quarter is higher than in the previous one, and added that the demand from the miners exceeded Nvidia's expectations.
It is worthy to recall, than in Q3 of 2017 Nvidia's revenue related to the cryptocurrency market halved.